Following the conclusion of the Swell 2018 conference and the diminishing excitement that was revolving around xRapid, Ripple (XRP) has managed to return to the 0.52 US dollar level. According to some experts and analysts, the depreciation of price is seen as a concerted manipulation by the mother company, however, even after its recent surge, Ripple (XRP) still displays limited chances of rising to the 0.76 US dollar mark in the short run.
However, Ripple (XRP) still tops the list of the one of the best performing digital asset in the market in the past month, surging upwards from lows of 0.30 US dollars and managing to maintain parts of the gains. On the other hand, the digital coin was met with a lot of skepticism yet again reviving the debate that XRP is not critical to the operations of the Ripple payment network.
In the past 24-hours, Ripple (XRP) gradually depreciated from around 0.56 US dollars to 0.52 US dollars as of now, concluding the day’s trade volumes to about 877 million US dollars. The digital asset is extremely active on one of Japan’s famous cryptocurrency exchange, Bitbank, where more than 124 million US dollars’ worth of trading is located, against the Japanese yen.
Currently, Ripple (XRP)is standing at the third position in the list of most significant virtual currencies regarding Market Cap. At the time of writing, CoinMarketCap reports that Ripple (XRP) is trading at about 0.519 US dollars (-2.27 percent) with a market cap of 20.7 billion US dollars.
According to Binance, today’s high for Ripple’s default cryptocurrency, XRP, was at 0.57107 US dollars while its day’s low was at about 0.51 US dollars (XRP/USD Pair). Still, on the Binance platform, XRP’s performance is up by 0.15 percent from last week. Currently, Binance is among the leading crypto exchanges in the world that are assisting XRP in replacing Bitcoin in gaining the interest of Japanese traders and investors.
Ripple (XRP) highest rated virtual coin on Binance
Ripple’s XRP has been nominated as the best virtual money to send and receive funds between exchanges by users, thanks to the speed and cost of transactions related to the virtual currency.
As you might know by now, Ripple (XRP) can settle cross-border settlements in less than 4 seconds with fees running up to about 0.00001 XRP’s per transaction. Considering that Ripple’s default currency, XRP is a settlement and liquidity digital asset, it can be used for settlements of unrelated currencies such as commodities and fiat currencies.
Binance Ratings have availed the information after the exchange incorporated the XRP/USD pair on their platform.
Other digital currencies that were competing against Ripple (XRP) are the likes of Bitcoin, Cardano, Ethereum, Litecoin, Zcash among other cryptocurrencies.
On the ratings, Ethereum and Cardano managed to garner 4.5 stars out of 5 stars while Bitcoin received 4 out of 5. AdToken was the least voted currency with two stars out of five. AdToken is a virtual currency of the AdChain project that incorporates a sequence of interoperable open protocols based on the public Ethereum blockchain.
Brief Ripple Profile
Ripple’ XRP is undeniably one of the most significant digital assets in the crypto market today. Launched on 2ndFebruary 2013, XRP has its total supply of digital coinage standing at about 100 billion coins with its circulating supply believed to be over 39 billion coins.
As stated earlier, XRP’s market capitalization stands just above 20 billion US dollars currently, with each coin exchanging at 0.519 US dollars. It is only Bitcoin and Ethereum that beats Ripple in the race of being the most relevant cryptocurrency in the market and with its introduction into the Binance platform and its high rankings by users there; only positive outcomes can be expected.
XRP and Stellar Lumens [XLM] Price Analysis: Tokens fall prey to bear’s fury as market falls
Bitcoin’s [BTC] rise has been cut short, with the king coin’s fall below $5,600 triggering a market downturn. In its wake, several coins were leaving a trail of red, bleeding out the gains mounted over the past week. These included XRP, Bitcoin Cash [BCH], Litecoin [LTC], and EOS [EOS] with several coins following suit.
XRP witnessed a massive decline of over 8.5 percent, leading to its price being thrown off a cliff. As Bitcoin began its descent, XRP saw its price, which was holding steady at $0.33, drop to under $0.30 within a matter of hours. The coin’s market cap also took a heavy hit, losing over $1 billion since the bears attacked.
Bitcoin Cash, just weeks after overtaking Litecoin and EOS, was subjected to its big brother’s bearish onslaught, dropping by over 8.86 percent over the past 24-hours. Bitcoin bulls had previously pushed the coin’s price past $300, but less than a day later, the price dipped below $280, a testament to the severity of the market correction. Within the same period, the market cap dipped below $5 billion, and was $4.91 billion, at press time.
Despite some bullish behaviour in the wake of the impending halving, Litecoin could not escape the digital gold’s bears. LTC’s price also dipped by 8 percent, dropping from $79.35 to $72.20, over the past 24-hours. Market capitalization also took a severe hit, with the coin losing over $400 million since the downtrend began.
EOS, mirroring XRP’s movement, fell by 8.35 percent over 24 hours. After weeks of trading just below the $6 mark, EOS was pushed below the $5 mark, plummeting to $4.91. The market cap for the fifth largest cryptocurrency in the market dropped by almost 9 percent since April 23, losing around $400 million. It was valued at $4.64 billion, at press time.
The bearish trail did not end with these coins, with the collective market marred in a sea of red. Other notable losers were Stellar Lumens [XLM], Cardano [ADA], and Tron [TRX]. Bitcoin SV [BSV] and Binance Coin [BNB] also lost considerable ground, but their reasons are unlikely to be tethered to Bitcoin.
Ripple Price Prediction: XRP/USD hampered by immediate resistance stacks
- XRP/USD plummeted from $0.321 to $0.301 this Wednesday.
- The price may potentially tumble down further to $0.291.
XRP/USD crashed down from $0.321 to $0.301 this Wednesday, as the entire crypto market took a massive hit. The daily confluence detector shows us that the price may go down further till $0.291 before it meets any significant support.
XRP/USD Daily Confluence Detector
The confluence detector shows us resistance levels from $0.302 – $0.303, $0.3095, and $0.3125. From $0.302 – $0.303, the confluences detected are 15-min previous high and monthly 38.2% Fibonacci retracement level. At $0.3095 we have the daily pivot point support 3. Finally, at $0.3125 we have the monthly 61.8% Fibonacci retracement level.
On the downside, the support levels are at $0.2960-$0.2970, $0.292, and $0.29-$0.291. From $0.29-$0.291, we see a confluence of the monthly pivot point support 1. At $0.292 we have the weekly 161.8% Fibonacci retracement level. Finally, from $0.2960-$0.2970, we have the monthly 23.6% Fibonacci retracement level and weekly pivot point support 2.
XRP Price Prediction Today: Daily (XRP) Value Forecast – April 24
- The price has fallen and it is approaching the $0.31 price level.
- The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.
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Resistance Levels: $ 0.61, $0.63, $ 0.65
Support Levels: $0.31, $0.29, $0.27
Yesterday, April 23, the XRP price was in a bullish trend. The bulls broke through the 12-day EMA and the 26-day EMA to reach the bullish trend zone. However, the bulls were resisted at the $0.33 price level and the price made a downward correction. The price has fallen and it is approaching the $0.31 price level.
A trend line is drawn to determine the duration of the bearish trend. A bearish trend is ongoing if the trend line is unbroken. However, if a bullish candlestick breaks the trend line and another candlestick closes on the opposite of it; the bearish trend is said to be terminated. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The XRP price is below the EMAs which indicate that price is in the bearish trend zone.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the XRP price is in a bearish trend. Yesterday, the bulls reached the $0.33 resistance level but were resisted. Each time the bearish candlestick tests the trend line, the crypto’s price falls to the lower lows. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. The MACD line and the signal line are below the zero line which indicates a sell signal.